Core Viewpoint - Diversified Energy Company PLC has announced a Share Buyback Program aimed at reducing its issued share capital, believing that its shares are trading at a substantial discount to net asset value, thus representing an appropriate use of cash resources [2][6]. Group 1: Share Buyback Program Details - The Company has the authority to repurchase its ordinary shares of 20p each, as approved at the 2024 Annual General Meeting [2]. - The maximum number of shares to be repurchased is set at 4,756,842 shares, with a total consideration not exceeding £52.3 million [6]. - The Program will expire on the earlier date of June 30, 2026, or the Company's 2026 Annual General Meeting [6]. Group 2: Execution and Compliance - The buyback will be executed on the London Stock Exchange, adhering to the limitations set by the shareholder authority and relevant regulations [3]. - The Company has engaged Peel Hunt LLP to facilitate the repurchase of shares, allowing purchases during closed periods independently of the Company [4]. Group 3: Company Overview - Diversified Energy Company is focused on natural gas and liquids production, marketing, and well retirement, acquiring long-life assets to improve performance and ensure safe retirement [5]. - The Company is recognized for its sustainability leadership and aims to responsibly produce energy while generating shareholder value [5].
Diversified Energy Announces Details of Share Buyback Program